FortLauderdale.gov

City Economic Profile

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As home to more than 150 corporate headquarters, Greater Fort Lauderdale has establish itself as a world-class international business center and one of the most desirable locations for new, expanding, or relocating businesses. Here are just a few of the reasons for this success:

  • LOW TAXES: 4th Best State in the US for Business Tax Climate, Tax Foundation, 2015. NO personal state income tax. State corporate income tax rate 5.5%. NO property tax on business inventories. NO property taxes on in-transit goods for up to 180 days. NO local occupational tax. State sales tax rate 6.0% - NO city/county sales tax rate, NO city sales tax rate. On average, Broward County collects 1.08% of a property's assessed fair market value as property tax.
  • AIR TRAVEL: Fort Lauderdale-Hollywood International Airport (FLL) is ranked 22nd in the US in terms of passenger traffic and 45th in terms of cargo volume. FLL is the 17th most affordable airport in the US and is the fastest growing major airport in the country. Fort Lauderdale is also served by Miami International Airport (ranked 12th in passenger traffic, 3rd in cargo, and 21st in affordability) and Palm Beach International Airport. Fort Lauderdale Executive Airport (FXE) is the busiest general aviation facility in the US in terms of US Customs clearings for passengers and aircraft.
  • EDUCATION: There are 43 institutions of higher learning within 30 miles of Fort Lauderdale, offering Associate's Degrees or higher, eleven of which offer MBA degrees. Broward County Public high schools have been named among the best in the country.
  • CRUISE & CARGO: Port Everglades is the nation’s 3rd busiest cruise port, with 4.0 million cruise passengers served by nine cruise lines and 43 ships. Port Everglades was rated the “Best Domestic Port” by Porthole Cruise magazine. It is Florida's deepest port and Florida’s leading cargo container port (12th in the US).
  • FINANCIAL SERVICES: Banking and financial services have grown to make the region rank as the 38th largest economy in the world, with a robust industry that includes major banks, leading insurance carriers, as well as 77 private equity and hedge fund managers.
  • COMMUTER RAILS: Greater Fort Lauderdale rails include the downtown Fort Lauderdale streetcar, the “WAVE”; the “TriRail” commuter rail line linking Miami-Dade, Broward, and Palm Beach counties; and four stops along “All Aboard Florida”, the passenger rail service planned to run from Miami to Orlando.
  • WORKFORCE: Customized job training programs are provided via CareerSource Florida. CareerSource Florida offers programs such as Incumbent Worker Training and Quick Response Training to help new/existing companies train, recruit, and retain a knowledgeable and tech-savvy workforce. Fort Lauderdale and Broward County has one of the largest, fastest growing, and most diverse labor forces in the state of Florida.
  • MEETINGS & CONVENTIONS: The Greater Fort Lauderdale/Broward County Convention Center (600,000sf) is just five minutes from the Fort Lauderdale-Hollywood International Airport. The Conference Center can host one large event or multiple, smaller events at the same time. It is the first convention center in Florida to earn LEED certification and the third in the US to achieve LEED Gold. Currently there is a planned expansion that includes an onsite 700+ room hotel and +200,000sf of additional space.
  • MARINE INDUSTRIES: With +300 miles of inland waterways, Greater Fort Lauderdale is known as the “Yachting Capital of the World.” According to the Marine Industries Association of South Florida (MIASF), we lead the state with an economic impact estimated at $8.8 billion in the county and $11.5 billion in the region, contributing more than 136,000 jobs regionally and representing more than $4 billion in wages. The Fort Lauderdale International Boat Show is the world’s largest boat show featuring more than $3 billion worth of boats, yachts, super yachts, electronics, engines, and boating accessories from every major marine manufacturer and boat builder worldwide. The Boat Show encompasses more than 3 million square feet of space, both on land and in water.
  • A VIBRANT ARTS COMMUNITY: Broward County has some 6,271 arts organizations employing almost 23,500 people. Just minutes from the beach is the Riverwalk Arts and Entertainment District in downtown Fort Lauderdale, home to cultural attractions, shops, parks, and restaurants. Along Riverwalk, discover the Broward Center for the Performing Arts; the Museum of Discovery and Science with its Autonation 3D IMAX Theater; the Museum of Art; the Florida Grand Opera; and the Fort Lauderdale Historical Center, Stranahan House.  Catch top name talent at the BB&T Center in Sunrise, and concerts, comedy, and sports at the Hard Rock Live in Hollywood.

The Miami-Fort Lauderdale-West Palm Beach Metropolitan Statistical Area

Fort Lauderdale is the geographic center of the Miami-Fort Lauderdale-West Palm Beach Metropolitan Statistical Area (MSA). The MSA itself is an economic engine.

  • Population 6.7 million - largest in the Southeast, 8th largest in US
  • Retail/Restaurant Sales $106.3 billion
  • Workforce 3.0 million - 61.1% white collar, 17.3% blue collar, 21.7% service
  • Education - 37.7% college degree, 18.7% some college
  • Nation's Best Places to Start a Small Business, Bizjournals
  • 3rd Least-Costly Place To Do Business, KPMG
  • Top 50 U.S. "Tech Talent" Markets, CBRE
  • Best Large Cities for Jobs, NewGeography
  • Best Cities for Global Trade, Global Trade Magazine
  • Hottest Start-Up Hubs in America, Kauffman Foundation

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